Crude palm oil ended with losses due to ample stocks position in the physical market. Further, speculators offloading their holdings driven by weak trend in domestic as well as overseas markets too influenced commodity prices. However, the hike in India's processed palm oil import tax to 10% from 7.5% has resulted into higher demand for Crude palm oil from India as the refining process is encouraged to be done domestically to save costs capped the losses to some extent. As per latest release from Cargo Surveyor Intertek Agri Services, Malaysia's palm oil exports during January stood at 1.28 million metric tonnes, down 11% over the same period in January, 2013 . Crude palm oil futures may range bound next week on speculation of weak demand from China as the country are on a week long holiday for Lunar New Year amid bullish soybean complex. The country palm oil imports from Malaysia jumped 3.5% to 30,743 tons in Jan 1-25 compared to 290,430 tons for the same period month ago, data from Intertek showed. Malaysia Jan 1-20 palm oil exports dropped 15% on month to 748,303 tons, data release by Intertek showed. India crude palm oil imports in December jumped 8.7% on year to 691,740 tons compared to 636,113 tons a year earlier, data release from the Solvent Extractors Association (SEA) of India. Technically market is under fresh selling as market has witnessed gain in open interest by 1.59% to settled at 3507 while prices down -0.7 rupee, now CPO is getting support at 532.9 and below same could see a test of 531.7 level, And resistance is now likely to be seen at 535.5, a move above could see prices testing 536.9.

Trading Ideas:

CPO trading range for the day is 531.6-536.8.

Crude palm oil ended with losses due to ample stocks position in the physical market.

Malaysia's palm oil exports during January stood at 1.28 million metric tonnes, down 11% over the same period in January, 2013.

Malaysia Jan 1-20 palm oil exports dropped 15% on month to 748,303 tons, data release by Intertek showed.

Crude palm oil prices in spot market gained by 4.50 and settled at 527.90 rupees.